News from AAP

Stocks to watch on Friday

Print This Post A A A

Stocks to watch on the Australian stock exchange on Friday, March 27:

BBG – BILLABONG INTERNATIONAL – down 0.5 cents, or 0.8 per cent, at 60 cents

Surfwear group Billabong International has vowed to fight a shareholder class action launched over a 2011 earnings downgrade that led to massive share price falls.

BKW – BRICKWORKS – up 25 cents, or 1.8 per cent, at $13.81

More land and bricklayers are urgently needed to meet the surging housing demand, says building products group Brickworks.

BOQ – BANK OF QUEENSLAND – down 47 cents, or 3.3 per cent, at $13.89

Bank of Queensland is forecasting economic uncertainty after posting a record half year cash profit.

FMG – FORTESCUE METALS GROUP – up eight cents, or 3.9 per cent, at $2.12

RIO – RIO TINTO – down 33 cents, or 0.6 per cent, at $56.50

Rio Tinto chief executive Sam Walsh has described as absolute nonsense and harebrained Fortescue Metals chairman Andrew Forrest’s call for a cap on iron ore production to prop up plunging prices, while Mr Forrest has stood by his controversial statement.

FXJ – FAIRFAX MEDIA – down three cents, or 3.1 per cent, at 94 cents

Former Network Ten boss Nick Falloon will take over from Fairfax chairman Roger Corbett in August.

LOV – LOVISA – up 10 cents, or 4.2 per cent, at $2.50

Jewellery retailer Lovisa is primed for a $2.25 million acquisition of 21 fashion accessory stores across South Africa.

MYR – MYER – down 6.5 cents, or 4.6 per cent, at $1.35

A renowned class action instigator has taken aim at Myer, claiming the retailer should never have told investors its profit would grow.

PPX – PAPERLINX – in a trading halt at 1.7 cents

Packaging group Paperlinx is in talks with its European financiers amid fears it may have breached the terms of a loan.

SOL – SOUL PATTINSON – up 16 cents, or 1.1 per cent, at $14.80

Investment group Washington H Soul Pattinson’s first half profit has declined due to impairments but it’s enjoyed earnings rises from its major investments.

VET – VOCATION – up 4.6 cents, or 58.2 per cent, at 12.5 cents

Vocation’s interim chief financial officer Stewart Cummins will take the helm of the embattled education provider as it works to recover from a scandal over its services.